Moody’s assigns Credito Emiliano Ba1

Moody’s Investors Service said it assigned Ba1 long-term local- and foreign-currency issuer ratings to Credito Emiliano Holding SpA, the holding company of Credito Emiliano SpA.

The holding company issuer rating was determined using the operating company’s baseline credit assessment as the anchor point together with the expected balance sheet of the group at failure under Moody’s loss given failure analysis.

The outlook on the issuer ratings is negative, in line with the outlook on the bank’s long-term bank deposit ratings, and incorporates Moody’s expectation of senior and subordinated debt to be issued by the Credito Emiliano group, the agency said.

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